New York, March 22, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Disaster Recovery as a service (DRaaS) Global Market Report 2022" - https://www.reportlinker.com/p06246480/?utm_source=GNW
Bluelock, LLC, Dell, Recovery Point Systems, Acronis International GmbH, TierPoint, Geminare Incorporated, VMWare Inc., Symantec Corporation, Commvault, DATORA, Disaster Recovery South Africa (PTY) Ltd., Message Labs Africa and Node Africa, HP Enterprises Company, Treo Information Technology, NTT Communications, Veeam® Software, Zerto, Windstream Communications and Verizon.
The global disaster recovery as a service (DRaaS) market is expected to grow from $5.79 billion in 2021 to $8.08 billion in 2022 at a compound annual growth rate (CAGR) of 39.5%. The change in growth trend is mainly due to the companies stabilizing their output after catering to the demand that grew exponentially during the COVID-19 pandemic in 2021. The market is expected to reach $26.73 billion in 2026 at a CAGR of 34.9%.
The disaster recovery as a service (DRaaS) market consists of sales of cloud based disaster recovery as a services for protecting applications and data from the disruption caused due to disaster.DRaaS helps in business continuity in any event of system failure.
Some features of these solutions are hybrid cloud availability monitoring, cross-cloud infrastructure management, and cross-platform health monitoring.
The main service types of disaster recovery as a service (DRaaS)are backup and recovery, real-time replication, and data protection.Real-time replication is the process of synchronizing data across a source and a destination database when a change occurs in the data source.
The deployment models of disaster recovery as a service (DRaaS) are premises-to-cloud and cloud-to-cloud.The various sizes of the enterprise are large enterprises and small & medium enterprises.
The cloud used in disaster recovery as a service is public, private, and hybrid. The various types of applications are banking, financial services and insurance (BFSI), government, it and telecom, media and entertainment, manufacturing and logistics, and education.
The regions covered in disaster recovery as a service (DRaaS) report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The rise in need for backing up public and private data drives the growth of the disaster recovery as a service market. There is 2.5 quintillion bytes of data created every day and a major factor contributing to the loss of this data is unplanned downtime of systems which further results in the shutdown of various companies. The potential losses and damage due to the system downtimes are huge and hence there is a need for backup services. These backup services would insure companies of any unforeseen disasters and hence drive the growth of the DRaaS market. For instance, according to invenio IT study, less than 10% of the companies survive a disaster without a disaster recovery plan. These companies include not only small players in the market but also major players such as FedEx and Nissan, who require backup services for their survival.
Many companies fear data breaches, as they are concerned about the company’s sensitive information being compromised and hence show a lack of trust in data security when sourcing from a third party vendor.This lack of trust prevents people from adopting the DRaaS, which acts as a restraint for the DRaaS market.
For instance, in March 2020, the hotel chain Marriott disclosed a security breach that impacted the data of more than 5.2 million hotel guests who used their company’s loyalty application.
Due to rise in the number of cyber threats, companies started using AI and Machine Learning in DRaaS solutions to detect threats and unusual behavior in advance.There are predictive learning algorithms that are being developed to differentiate between real and false disaster recovery situations.
These learning algorithms can automatically perform proactive recoveries, eliminating outages before they are detected.For example, Unitrends, a US-based company offers a variety of business continuity and backup services.
The company has developed the use of artificial intelligence (AI) in its services which runs during every backup in order to identify backups that are affected by ransomware. Once data threats are identified, the company with the help of AI and new technologies immediately informs about the same making data more secure.
In July 2020, VMware, Inc. an American cloud computing and virtualization technology, announced that it has acquired Datrium DRaaS, a leader in cloud-native disaster recovery, for undisclosed amount. This acquisition focuses on expanding the current VMware Site Recovery disaster recovery as a service (DRaaS) offering with Datrium’s world-class cost-optimized DRaaS solution. This will help customers to build hybrid clouds by combining the consistent infrastructure and operations of VMware Cloud with Datrium DRaaS to reduce the cost and complexity of business continuity.
The countries covered in the disaster recovery as a service (DRaaS)market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Read the full report: https://www.reportlinker.com/p06246480/?utm_source=GNW
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